How is reporting beneficial for my business?
Reports are the lifeblood of all businesses. In fact, the latter’s accountability and performance are almost always assessed, at least partially, through data-based reporting. In that sense, the data in reports is essential to account management and long-term client retention.
Here is a glimpse of how reporting is simplifying the lives of agencies:
Reporting on local data is an important role for agencies and in-house analysts. It helps in gathering information and building action plans.
It also allows them to communicate more regularly with clients and keeps both parties accountable to one another.
Let’s not forget that reporting also shows actual results ,meaning that it is both objective and reliable. This can help in streamlining processes, reducing costs and improving efficiency. As a result,one is able to keep track of the progress in order to build trust between the two parties.
Furthermore, reports can be used to educate clients since they contain clear information and helpful insights: It is the best way to teach clients about what each data point means, and why it is important for their bottom line.
In simpler words,reporting is about,comparing performance internally, and between organizations and sectors : Internally in order to supervise page performance (interactions, engagement rates,…) as well as the market position and externally by keeping a close eye on what the competition is doing (top posts, top brands in the market,…)
Ultimately, the purpose of any marketing report is to show success and contextualise losses. The key to being able to do this, in a true way, is to know what the measures of that success or loss are.